No, it's not. It would be more work to restore it, by a long-shot, than it would take to build a new one properly from scratch and you would still have a pretty poor excuse for a stripper when you got it done. Aside from all the structural issues, it's not a particularly elegantly made canoe to start with. There are lots of old polyester-resin-covered, home-made strippers out there from the 1970s and 1980s and very few of them are worth putting much work into.
If you have two hands and can read and follow directions, you can build a better boat yourself - with modern materials and the books, plans, forums and help that are available these days. No reason to let outdated materials and someone else's poor workmanship drag down your project.